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MoneySwap

  • BY: Andrew Hore |
  • POSTED: 28/07/2011 |

Online peer-to-peer currency exchange MoneySwap plans to join Aim on 12 August at an anticipated market capitalisation of 20m.

The Gibraltar-registered and Hong Kong-based company wants to raise 3.125m. The likely placing price is 5p.

The online currency exchange is known as MSEx and MoneySwap also has an online clearing house called MSPCH. MoneySwap has offices in Hong Kong, London, Shanghai and Taichung and the focus is on the Asia Pacific region.

Ralph Hazell owns 4.57% and this is expected to be diluted to 3.85%. Hazell has a business called MicroExchanges (www.microexchanges.com) which provides electronic marketplaces and MoneySwap is a customer.

Richard Poulden, deputy chairman of Sirius Minerals, is a non-executive director.

Download the June 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf

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